The Fashion Channel Competition Issue and Solution

Problem Statement

The Fashion Channel (TFC) faces problems represented by the inability to compete with rivals due to the firms unwillingness to accept changes. TFC has focused on a broad audience for many years, resulting in the company being used to operate in a certain way while other networks utilize diverse methods to attract viewers (Stahl, 2007). The two central issues around which TFCs procedures are organized are interconnected because the companys resistance to modifications prevents it from surpassing its competitors.

Analysis of the Problems

Despite seeking methods to improve its marketing, TFC is hesitant to accept changes, thus hindering the firms possibilities of outstanding other networks. TFCs main rivals are CNN and Lifetime, which, unlike TFC, have fashion-specific programming blocks (Stahl, 2007, p. 2). For instance, Lifestyle attracts younger female demographics and has a 4.5 rating on consumer interest, and CNN appeals more to men and scores 4.3 (Stahl, 2007, p. 5). In comparison, TFC does not concentrate on a specific population and has a 3.8 rating (Stahl, 2007). Therefore, TFC needs to modify its marketing approach, which is challenging due to the organizations opposition. TFCs founder and CEO, Jared Thomas, and some other executives feel an urge to resist change (Stahl, 2007, p. 2). In particular, the leadership team is used to following the something-for-everyone strategy and is wary about putting revenue at risk (Stahl, 2007, p. 6). Naslund and Norrman (2022) have developed a conceptual model that concerns transformation and purpose and indicates that the two are irrelevant without a commitment from top management. Accordingly, TFCs central issues are the executives resistance to change and the necessity to surpass competitors.

Potential Solutions

Change Model

For TFC to outshine its rivals, the firm needs to embrace modifications, so the first solution should focus on resolving opposition to transformations. One way to deal with the matter is by utilizing Kurt Lewins change model, which is reflected in three steps that are unfreezing, changing, and refreezing (Tamunomiebi & Akpan, 2021). The method challenges the status quo, identifies driving and constraining forces, and maintains shifts by integrating new values and practices (Tamunomiebi & Akpan, 2021). The stage necessary to address resistance is unfreezing, which is based on manipulating factors that drive people away from the existing situation and managing influences that may negatively affect transformations (Tamunomiebi & Akpan, 2021). Consequently, Lewins theory can help TFC recognize that a sustained shift is needed to achieve better outcomes.

The majority of solutions aimed at overcoming opposition to modifications seem to concentrate on middle- and lower-ranking employees, but TFCs case focuses on the companys executives. Therefore, the main advantage of utilizing Lewins change model is that it can present TFCs management with a bigger picture regarding the significance of change (Tamunomiebi & Akpan, 2021). However, the approachs primary disadvantage is that the process of preparing the leadership for the shift is likely to be time-consuming (Tamunomiebi & Akpan, 2021). Accordingly, Lewins theory can facilitate the acceptance of modification but may be challenging to implement.

Risk Response

Another solution to reducing resistance to transformation is presenting the executives with a risk management plan to address their concerns and suggest ways to decrease possible losses. In particular, four risk response strategies can be utilized depending on the central purpose, the severity of dangers, and resources, and the techniques are avoidance, transference, acceptance, and mitigation (Zuo & Zhang, 2018). For instance, mitigation controls perils through selecting and implementing such approaches as zonal-based, trade-off, work breakdown structure-based, and optimization-model (Zuo & Zhang, 2018). For example, the latter method is perceived as quite effective due to considering such factors as cost, time, and quality (Motamed & Bamdad, 2021; Zuo & Zhang, 2018). Accordingly, risk management can be employed to handle resistance associated with different potential dangers.

Risk response actions can benefit TFC by suggesting ways of dealing with failures but have certain drawbacks. TFCs case indicates that the networks leadership is likely to oppose a new marketing strategy due to such threats as losing viewers and distribution support, endangering revenue, and failing competition (Stahl, 2007). Nevertheless, the main advantage of risk response is that it aims to decrease a projects negative impact while offering opportunities to try different ways of operating a business (Zuo & Zhang, 2018). However, the primary disadvantage of the proposed solution is a lack of a standard process that would guide companies, meaning that determining and adopting adequate approaches is a challenging task (Zuo & Zhang, 2018). Therefore, risk management that concentrates on risk response can reassure TFCs executives to accept change but may be difficult to implement.

Time-Specific Content

A solution regarding TFCs second problem, competition against CNN and Lifetime, focuses on striving to meet the preferences of both current and new audiences. TFCs case lists multiple ways of distinguishing the company from its rivals, like whether to choose a cross-segment, multi-segment, or two segments approach (Stahl, 2007). While the propositions address various factors affecting TFCs success, it may be useful for the network to also consider showing specific content to certain viewers depending on when a particular population watches TV. For instance, Krantz-Kent (2018) states that people aged 15 and older are the most engaged with TV shows from 8 to 10 pm. Accordingly, TFC could utilize such data to broadcast certain content based on who is watching at a given time. The benefit of such a solution is that it provides an opportunity to meet the preferences of different viewers, and its disadvantage is that TFC would need to do additional research. Overall, the suggestion is meant to aid TFC in selecting a segment based on the time people watch TV, but it requires obtaining more information.